SEGMENTS

9 Months Ended

Sep. 30, 2024

SEGMENTS [Abstract]

SEGMENTS

10. SEGMENTS

As of January 1, 2023, the Company’s business has been organized into two reportable business segments: (a) Campus Operations; and (b) Transitional.  These segments are defined below:

Campus Operations – The Campus Operations segment includes campuses that are continuing in operation and contribute to the Company’s core operations and performance.

Transitional – The Transitional segment refers to campuses that have been marked for closure and are being taught out.  As of September 30, 2024, no campuses were classified in the Transitional segment.  During the prior year, the Company’s Somerville, Massachusetts campus was classified in the Transitional segment.  The campus was fully taught out as of December 31, 2023.

We evaluate performance based on operating results.  Adjustments to reconcile segment results with consolidated results are included in the caption “Corporate,” which primarily includes unallocated corporate activity.

Summary financial information by reporting segment is as follows:

	For the Three Months Ended September 30,
	Revenue										Operating Income (Loss)
	2024		% of Total			2023		% of Total			2024			2023
Campus Operations	$	114,410		100.0	%	$	99,527		99.9	%	$	14,865		$	11,889
Transitional		-		0.0	%		91		0.1	%		-			(745	)
Corporate		-		0.0	%		-		0.0	%		(9,043	)		(9,148	)
Total	$	114,410		100.0	%	$	99,618		100.0	%	$	5,822		$	1,996

	For the Nine Months Ended September 30,
	Revenue										Operating income (Loss)
	2024		% of Total			2023		% of Total			2024			2023
Campus Operations	$	320,691		100.0	%	$	274,093		99.5	%	$	36,819		$	26,167
Transitional		-		0.0	%		1,455		0.5	%		-			(1,423	)
Corporate		-					-					(32,571	)		(347	)
Total	$	320,691		100.0	%	$	275,548		100.0	%	$	4,248		$	24,397

	Total Assets
	September 30, 2024		December 31, 2023
Campus Operations	$	319,340	$	234,940
Transitional		-		262
Corporate		84,682		110,047
Total	$	404,022	$	345,249